Marubeni expects Chinese approval for Gavilon deal by end-March

February 01, 2013|Reuters

TOKYO, Feb 1 (Reuters) - Japanese trading house MarubeniCorp expects to get Chinese regulatory approval for its$5.6 billion purchase of U.S. grain merchant Gavilon by the endof March, the company's Chief Financial Officer YukihikoMatsumura said on Friday.

Matsumura also said at the earnings briefing he expectsMarubeni to meet its forecast for net profit of 200 billion yen($2.2 billion) for the year to March 31.

The company said in a statement net profit for the ninemonths through December came to 152.45 billion yen, an increaseof 7.9 percent from the year-earlier period.